Thursday, October 02, 2008

Mega_Legislation,Mega-Stupidity,Mega-Debt!

"The tax provisions added more than $100 billion to the cost of the
bill. From a three-page proposal by the Treasury Department
10 days ago, the bill has swelled to 451 pages of legislation."
from article in the Baltimore Sun News in the Google online news today;
7:09 AM 10/2/2008; also note when reading that the stupid Senate proposes to increase the national debt by more than the budget of the Dept of Defense or the Social Security system while at the same time, cutting taxes. Could you do that in your home-increase your debt by billions but not increase your income by billions? It is a failing and stupid legislation from that band of fools called the US Senate.
Read article at:
http://www.baltimoresun.com/news/nation/politics/bal-te.bailout02oct02,0,7917580.story

Also read this quote from NY Times article entitled "Deposit Plan will cost
banks more" after saying that for 10 years the FDIC did not collect
the premiums banks were supposed to pay into the system to
ensure against loss:
"The F.D.I.C. insures roughly $4.5 trillion in deposits,
and has $45.2 billion in its fund." To help you comprehend that in
numbers you could relate too, that is equivalent to insuring/guaranteeing no loss of $45,000 with $45.00! Do you see the problem? A Bail-out for fraud is not a solution no matter how many 'sweeteners' and tricks they throw in?
Read article for explanation of part of the problem, government agencies
that appeased bankers instead of public, at:
"http://www.nytimes.com/2008/10/02/business/02deposit.html?adxnnl=1&adxnnlx=1222952855-HdLbfF6Au4SVV7wIl71qgw/
7:12 AM 10/2/2008
Update as of 7:30 am MT:
This quote from BBC article today entitled,"Will the Public buy a new bail-out plan?" by Steve
Schifferes:
"According to polling by the Pew Research Center, support for a
bail-out plan has actually fallen from 57% to 48% in the past week
(surveys conducted between 19-22 September and 27-29
September). "[end quote]
Read article at:
http://news.bbc.co.uk/2/hi/americas/7646181.stm
signed gloria poole, RN and artist, Denver CO 80203

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